COUPANG SHAREHOLDER ALERT: CLAIMSFILER REMINDS INVESTORS WITH LOSSES IN EXCESS OF $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against Coupang, Inc. – CPNG

Sep 23rd, 2022 22:50 EST

NEW ORLEANS, Sept. 23, 2022 /PRNewswire/ -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have until October 25, 2022 to file lead plaintiff applications in a securities class action lawsuit against Coupang, Inc. ( NYSE: CPNG), if they purchased or acquired the Company's shares pursuant and/or traceable to the Company's March 2021 initial public offering (the "IPO").  This action is pending in the United States District Court for the Southern District of New York.

Get Help

Coupang investors should visit us at https://claimsfiler.com/cases/nyse-cpng/ or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.

About the Lawsuit

Coupang and certain of its executives are charged with failing to disclose material information in its IPO Registration Statement, violating federal securities laws.

The alleged false and misleading statements and omissions include, but are not limited to, that: (i) the Company was engaged in improper anti-competitive practices with its suppliers and other third parties in violation of applicable regulations; (ii) the Company had improperly adjusted search algorithms and manipulated product reviews on its marketplace platform in order to prioritize its own private-label branded products over those of other sellers and merchants, to the detriment of consumers, merchants, and suppliers; (iii) unbeknownst to its Rocket WOW members, Coupang was selling products to non-member customers at lower prices than those offered to its Rocket WOW members; (iv) the Company subjected its workforce to extreme, unsafe, and unhealthy working conditions; (v) all of the above illicit practices exposed the Company to a heightened, but undisclosed, risk of reputational and regulatory scrutiny that would harm the Company's critical relationships with consumers, merchants, suppliers, and the workforce; and (vi) the Company's lower prices, historical revenues, competitive advantages, and growing market share were the result of systemic, improper, unethical, and/or illegal practices, and, thus, unsustainable.

The case is Choi v. Coupang, Inc., No. 22-cv-07309.

About ClaimsFiler

ClaimsFiler has a single mission: to serve as the information source to help retail investors recover their share of billions of dollars from securities class action settlements. At ClaimsFiler.com, investors can: (1) register for free to gain access to information and settlement websites for various securities class action cases so they can timely submit their own claims; (2) upload their portfolio transactional data to be notified about relevant securities cases in which they may have a financial interest; and (3) submit inquiries to the Kahn Swick & Foti, LLC law firm for free case evaluations.

To learn more about ClaimsFiler, visit www.claimsfiler.com.

SOURCE ClaimsFiler

SHARE

You must be logged in to post a comment.

Related Recent Publications

You must be logged in to post a comment.

Email newsletter

Receive the latest stock news and signals